Nova Agritech IPO Sees Robust Demand, Subscribed 26 Times on Day 2

24 Jan 2024 , 03:37 PM

Nova Agritech IPO sees strong demand, with over 26.48 times subscription on the second day of bidding.

The IPO comprises a fresh equity issue of Rs 112 crore and an offer-for-sale (OFS) of 77.58 lakh shares, closing tomorrow.

Notable subscription levels:

• NII investors category subscribed 47.21 times
• Retail investors category subscribed 30.54 times.
• QIBs category subscription 0.80 times

IPO Price Band:

The company set a price band of Rs 39-41, allowing investors to bid for 365 shares in one lot.

Nova AgriTech is an agri-input manufacturer focusing on soil health management, crop nutrition, and crop protection products. Follows a tech-based farmer-driven solution approach, providing ecologically sustainable and nutritionally balanced products.

As of November 2023, Nova Agritech has received a total of 720 product registrations across various categories.

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